Oil Tycoons Make Billions In Saudi Purge

Oil tycoons are applauding Saudi Arabia’s recent
anti-corruption raid, which has boosted the net worth of the
world’s 21 largest oil tycoons by $1.4 billion, according to
Bloomberg. The boost came on the back of increased crude prices as
reports of the arrests emerged. The net worth of Saudi investor
Prince Alwaleed bin Talal, on the other hand—one of the arrested
princes—sunk to its lowest level in 5.5 years. His biggest asset,
the Kingdom Holding Co., took most of the losses. The Bloomberg
index of billionaires dropped…

Oil tycoons are applauding Saudi Arabia’s recent
anti-corruption raid, which has boosted the net worth of the
world’s 21 largest oil tycoons by $1.4 billion, according to
Bloomberg. The boost came on the back of increased crude prices as
reports of the arrests emerged. The net worth of Saudi investor
Prince Alwaleed bin Talal, on the other hand—one of the arrested
princes—sunk to its lowest level in 5.5 years. His biggest asset,
the Kingdom Holding Co., took most of the losses. The Bloomberg
index of billionaires dropped…